Companies need to be faster, customer-oriented and must know how to quickly process and correctly interpret customer data, according to Mariano Gomide de Faria, Founder and Co-CEO, VTEX, a producer of solutions in the digital commerce market.
Anticipating customer behavior has always been one of the major challenges for companies when it came to innovation, development and improvement of the business processes. Nowadays, the ability to better understand customer needs and expectations has become an even greater priority, which can make the difference between staying on the market and bankruptcy – the key being the interpretation of data collected by companies as a result of customer interaction.
“The pace at which innovation processes take place is faster than ever. In China, for example, a new unicorn company is born every 4 days. To survive the new digital world, companies have to change something now, otherwise they will go bankrupt sooner or later. Nowadays there is no space for slow companies built on the model of the ’50s. Companies need to be faster, customer-oriented and know how to quickly process and interpret data about them. There is no future for companies without customer data,” says Rafael Campos, Sales VP for Europe at VTEX, a global provider of cloud eCommerce solutions for large companies.
In the process of digital transformation, the reorganization of the company can have a defining role, even though the changes may seem radical.
“Encourage innovation! Don’t think that the way you do business is the best or the only one that exists. Change the company’s leadership! There is no room for those who want to sit behind a desk and ask people to do their job. Everyone needs to have a hands-on approach and be at the forefront of the company. Create a new business culture centered on the new Millennials generation that does not take into account money or status. And also, in order to keep employees, talents, their benefits have to be changed, while improving the employer-employee relationship,” says Mariano Gomide de Faria, Founder and Co-CEO, VTEX.
These are among the main recommendations to the challenges faced by retail companies in the digitization process debated at EUROPEAN DIGITAL COMMERCE, the first Romanian edition of the European event dedicated to the retail industry.
The Romanian edition took place on Tuesday 11 June in Bucharest and brought together 150 specialists interested in the trends of the online and classical retail industry, the digitization process of this area, and the best practices implemented around the world in this segment.
The edition in our country is part of a series of 6 events scheduled for 2019. The first event took place in Italy in January, and in the coming months, European Digital Commerce will be hosted in UK, Poland, Spain and Portugal.
More than 80 companies have participated to the Romanian edition of European Digital Commerce, including Answer, Carrefour, Carturesti, Coca-Cola, Farmec, Flanco, Hewlett Packard Enterprise, Mega Image, PepsiCo, Pizza Hut, Vel Pitar, Vodafone, Stefanini, Yves Rocher, etc.
VTEX is the only multi-tenant True Cloud Commerce platform in the digital commerce market with an auto-scaling elastic cloud infrastructure that leads to higher conversion rates, lower TCO, and builds customer loyalty. Companies running the VTEX platform have seen a 54 percent increase in conversion rates and a significantly lower rate of cart abandonment. VTEX platform serves more than 3.000 online stores in over 25 countries.